Cable Shows His Ignorance Again

The over-rated Vince Cable said yesterday that hedge fund managers have made money out of shorting bank shares because taxpayers and governments underwrite the banks. John Redwood (who incidentally is the only politician worth reading on financial matters) calls him on this piece of populist idiocy:

Could someone explain to Mr Cable that the last thing someone short of bank shares wants to happen is an announcement of official support for that bank. That puts the price of the shares up which means the Hedge Fund Managers shorting the shares lose money.

Doh!



Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Embattled Henry Bolton on his battles…

“I’m going nowhere. I have seen people die, I have seen people blown up, I have seen people shot. Even the Taliban doesn’t quite prepare you for UKIP, though.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Sick Jared Back to Work Sick Jared Back to Work
Ann Black Purged by Red Terror Ann Black Purged by Red Terror
Parole Board Admit Processes Breached Parole Board Admit Processes Breached
Paul Mason: Aggressive and Intimidating Paul Mason: Aggressive and Intimidating
James O’Brien’s Carillion Fake News Goes Viral James O’Brien’s Carillion Fake News Goes Viral
O’Mara Hasn’t Helped a Single Constituent in Months O’Mara Hasn’t Helped a Single Constituent in Months
Credit Where Credit’s Due Credit Where Credit’s Due
Osborne on Carillion: Then and Now Osborne on Carillion: Then and Now
Paul Mason’s Column Axed Paul Mason’s Column Axed
Lord Pannick Backs Gauke’s Judicial Review Lord Pannick Backs Gauke’s Judicial Review
“Get On Your Knees, B*tch” Clive Lewis Returns to Labour Frontbench in Reshuffle” “Get On Your Knees, B*tch” Clive Lewis Returns to Labour Frontbench in Reshuffle”
Vulnerable Children’s Data Breached at Labour-Run Leicester City Council Vulnerable Children’s Data Breached at Labour-Run Leicester City Council
Dover Traffic at Record Levels Dover Traffic at Record Levels
10 Times Chris Williamson Wasn’t Sacked 10 Times Chris Williamson Wasn’t Sacked
Watch: Baroness Jenkin Drops C-Bomb in Lords Watch: Baroness Jenkin Drops C-Bomb in Lords
Worboys Victims Formally Ask CPS to Reassess 93 Unprosecuted Cases Worboys Victims Formally Ask CPS to Reassess 93 Unprosecuted Cases
BBC Reined In Over False Climate Claims BBC Reined In Over False Climate Claims
Corbyn Said Davos “Conspiracy” is “Cause of World’s Problems” Corbyn Said Davos “Conspiracy” is “Cause of World’s Problems”
Khan’s ‘Independent’ Brexit Study Written by Leave-Bashers And Corbynistas Khan’s ‘Independent’ Brexit Study Written by Leave-Bashers And Corbynistas
Press-Hating Peers Pave Way for Leveson 2 Press-Hating Peers Pave Way for Leveson 2